Latest Ratios: P/E Ratio -10.9x · EV/EBITDA N/A · ROE -17.5%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $344M | $120M | $66M | $227M | $131M | $218M | $135M | $163M | $60M | $191M | — |
| Enterprise Value | $344M | $120M | $55M | $216M | $103M | $31M | $63M | $121M | $23M | $104M | — |
| P/E Ratio → | -10.88 | — | — | — | — | 1.82 | — | — | — | — | — |
| P/S Ratio | 47.47 | 16.57 | 116.97 | 579.77 | 87.17 | 1.05 | 10.70 | — | — | — | — |
| P/B Ratio | 1.47 | 0.92 | 0.97 | 2.59 | 0.99 | 1.22 | 3.09 | 2.32 | 1.54 | 2.29 | — |
| P/FCF | — | — | — | — | — | 1.84 | — | — | — | — | — |
| P/OCF | — | — | — | — | — | 1.84 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 16.61 | 96.57 | 551.61 | 68.31 | 0.15 | 4.99 | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | 0.25 | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | 0.25 | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | 0.26 | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 95.9% | 95.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — | — | — | — |
| Operating Margin | -585.2% | -585.2% | -10933.7% | -15122.7% | -3696.4% | 59.6% | -645.4% | — | — | — | — |
| Net Profit Margin | -240.1% | -240.1% | -4670.1% | -13351.8% | -3604.7% | 58.9% | -642.3% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -17.5% | -17.5% | -33.9% | -47.6% | -34.7% | 110.0% | -142.6% | -111.1% | -85.0% | -97.7% | -38.2% |
| ROA | -14.3% | -14.3% | -22.4% | -35.0% | -31.0% | 90.8% | -103.4% | -94.1% | -75.8% | -91.0% | -36.3% |
| ROIC | -33.9% | -33.9% | -69.6% | -49.2% | -86.9% | — | — | -302.6% | — | — | — |
| ROCE | -37.8% | -37.8% | -57.8% | -42.2% | -33.9% | 106.3% | -131.2% | -112.6% | -86.6% | -98.0% | -38.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.10 | 0.10 | 0.22 | 0.18 | 0.13 | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.00 | -0.17 | -0.13 | -0.21 | -1.04 | -1.65 | -0.60 | -0.94 | -1.04 | -1.05 |
| Net Debt / EBITDA | — | — | — | — | — | -1.51 | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | -1.59 | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.91 | 10.91 | 5.32 | 9.55 | 18.79 | 12.87 | 3.39 | 7.58 | 5.01 | 14.71 | 14.04 |
| Quick Ratio | 10.91 | 10.91 | 5.32 | 9.55 | 18.79 | 12.87 | 3.39 | 7.58 | 5.01 | 14.71 | 13.97 |
| Cash Ratio | 8.40 | 8.40 | 5.04 | 9.22 | 18.45 | 12.69 | 3.26 | 7.29 | 4.69 | 14.47 | 13.91 |
| Asset Turnover | — | 0.05 | 0.01 | 0.00 | 0.01 | 1.07 | 0.17 | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | 4.10 | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 54.8% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | 54.2% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $74M | $71M | $71M | $70M | $68M | $58M | $39M | $25M | $19M | $20M |
Imminent liquidity and dilution
As reported in financial statements, Ovid's P/S ratio of 46.37 suggests that investors are pricing the company based on speculative future milestone potential rather than current revenue, which remains highly volatile and dependent on the timing of clinical events rather than consistent commercial product demand.
The elevated P/S multiple relative to broader biotech peers indicates that the market is assigning significant value to the soticlestat royalty stream despite the lack of current profitability. Investors should monitor whether this valuation holds as the company approaches critical clinical readouts, as any delay could lead to a rapid compression of these multiples.
Based on Ovid's reported figures, the ROIC has consistently remained in negative territory, fluctuating between -8.1% and -23.7% over the last ten quarters, which underscores the company's inability to generate positive returns on invested capital while it continues to fund high-cost, early-stage clinical research programs.
The persistent negative ROIC reflects a business model that is currently destroying capital rather than compounding it, as the heavy R&D burn rate far outpaces the intermittent milestone inflows. This trend suggests that the company's long-term viability is entirely contingent on a successful clinical breakthrough that can transition the firm toward a self-sustaining royalty or product-based model.
According to recent SEC filings, Ovid's current ratio has experienced significant volatility, dropping from 10.17 in 2026Q1 to 4.24 in 2025Q3, which highlights the rapid depletion of cash reserves as the company funds its ongoing research operations without the benefit of recurring, predictable revenue streams.
While the current ratio appears superficially high, the absolute cash balance of $13.15 million is insufficient to cover the company's quarterly operating losses, which frequently exceed $10 million. This liquidity profile suggests that the company is approaching a critical juncture where external financing or further asset monetization will be required to maintain operational continuity.
Financial data suggests that the P/E ratio is a fundamentally flawed metric for Ovid, as the company's TTM P/E of -10.62 obscures the reality that earnings are driven by non-recurring milestone payments rather than sustainable operational performance, rendering traditional valuation comparisons to profitable peers largely meaningless.
Investors should instead focus on probability-weighted NPV models for the pipeline assets, as the P/E ratio fails to account for the binary nature of clinical trial outcomes. Relying on earnings-based multiples in this context risks misinterpreting the company's true value, which is tied to the potential future royalty streams from partnered assets like soticlestat.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying OVID stock.
Ovid Therapeutics Inc.'s current P/E ratio is -10.9x. The historical average is 1.8x.
Ovid Therapeutics Inc.'s return on equity (ROE) is -17.5%. The historical average is -45.3%.
Based on historical data, Ovid Therapeutics Inc. is trading at a P/E of -10.9x. Compare with industry peers and growth rates for a complete picture.
Ovid Therapeutics Inc. has 95.9% gross margin and -585.2% operating margin.